Dubai developer Binghatti Holding is in preliminary discussions with major international banks about a potential initial public offering (IPO), signaling the company’s strategic growth amid the emirate’s booming real estate market.
Binghatti is working with financial powerhouses Citigroup Inc., Morgan Stanley, Emirates NBD, and EFG Hermes to explore a possible public listing, according to sources familiar with the matter. While the size and timing of the potential offering remain undecided, the move reflects Dubai’s vibrant property ecosystem.
The developer’s strong performance underscores its market potential. In the first half of 2025, Binghatti reported a remarkable profit of Dh1.82 billion, more than double the previous year’s figures. The company has strategically expanded into the luxury segment while maintaining its core mid-market housing focus.
Dubai’s property sector has demonstrated remarkable resilience, with Q3 2025 recording 59,228 sales transactions valued at Dh170.7 billion. This represents a significant 17.2% increase in transaction volume and a 19.9% rise in value compared to the same period last year.
Binghatti’s potential IPO would join a growing trend of Dubai developers leveraging equity markets. Recent examples include the successful listings of Alec Holdings, which raised $381 million, and Dubai Residential REIT, which collected $584 million in May.
The company’s diverse portfolio includes innovative projects like a Mercedes-Benz-branded tower and one of the world’s tallest residential buildings. High-end projects currently constitute approximately 37% of its portfolio by value.
A Binghatti spokesperson declined to comment on the potential IPO, maintaining typical corporate discretion during such exploratory phases.
